Business

Petroleum summit successful, says Osinbajo

Ihesiulo Grace 23 February 2018 0

…as Kachikwu targets full refining production 2019 As the Nigeria international petroleum summit ended, Nigeria’s Vice-president Professor Yemi Osinbajo, has said that the success of the summit has provided a platform for oil and gas exploration in Africa to thrive after decades of

Business News

Four states seek expedite action on oil exploration in Sokoto

Ihesiulo Grace 19 January 2018 0

…Kebbi, Katsina, Sokoto, Zamfara Governor Aminu Waziri Tambuwal said his administration will support the Federal Government in ensuring the success of exploration activities in the Sokoto Basin. According to him, governors of Sokoto, Kebbi, Zamfara and Katsina states are willing to partner with relevant agencies to facilitate the exploration of both ethanol and

Nigeria Oil & Gas

NNPC starts oil exploration in Nasarawa

Ihesiulo Grace 27 October 2017 0

The Nigerian National Petroleum Corporation (NNPC) has commenced exploration activities in the Benue Trough. The Group Managing Director of the Corporation, Mr. Maikanti Baru, announced this development during a visit to the Governor of Nasarawa State, Mr. Umaru Tanko Almakura in Lafia. Baru said the visit was in fulfilment of the Presidential mandate which directed […]

Energy News

NPDC poised to grow equity production to 500,000 bpd by 2020-Matshi

Ihesiulo Grace 27 September 2017 0

…..As company becomes 5th largest oil producer in Nigeria Nigerian Petroleum Development Company (NPDC), the flagship subsidiary of the Nigerian National Petroleum Corporation (NNPC), is poised to grow its equity production from the current 180,000 barrels per day to 300,000 bpd by 2018 and by 2019 and 2020 its production is expected to hit 400,000 […]

News

NNPC achieves 71 percent savings in deep offshore rig-rate

Ihesiulo Grace 23 February 2017 0

The Nigerian National Petroleum Corporation, NNPC, has renegotiated its deep offshore rig-rate from a staggering $580,000 to $164,000 per day, saving the country a 71.7 per cent cost of executing a similar operation in the past. Similarly, the Corporation has achieved a 35 per cent downward review of rig rates per day for both swamp […]